The R-Pharm Group of Companies has completed a transaction to acquire an Israeli Teva pharmaceutical plant located on the territory of the Yaroslavl Industrial Park (Novoselki), R-Pharm Group of Companies reports.
“The purchase of a complex certified according to the GMP standard and producing drugs for the treatment of socially significant diseases will allow R-Pharm to adapt production capacities to the needs of the healthcare system”, the report said.
The site, which includes 13 thousand square meters. meters of production premises, produces drugs that are intended primarily for the treatment of cardiological and neurological diseases, as well as diseases of the endocrine system. The design capacity of the plant is about 2 billion tablets per year. In the future, the modernization of the enterprise will allow production of drugs for a wider range of therapeutic areas, R-Pharm emphasizes.
“Due to the deal with Teva, the R-Pharm group of companies is growing not only with modern equipment and advanced production capacities, but also, equally importantly, with a unique labor team with a wide range of competencies and deep expertise, which will allow us to solve strategic tasks for the further development of production in Yaroslavl”, said R-Pharm CEO Vasily Ignatiev.
“We are pleased to cooperate with R-Pharm and successfully complete the transaction on mutually beneficial terms for the parties. The sale of the enterprise, which demonstrates good capacity utilization and stable financial performance, is designed to optimize operating costs and further increase the efficiency of Teva Pharmaceutical Industries Ltd”, commented Eric Roche, Senior Vice President, CEO of Teva Russia.
The terms of the sale of the plant imply a five-year industrial partnership between R-Pharm and Teva to ensure uninterrupted access for patients to the drugs that are currently produced at Teva.